Dividing Important Marital Assets In Divorce
Your home, pension, retirement benefits, and savings are all important factors that must be addressed in a divorce proceeding. The process of dividing these assets from an equitable standpoint is usually complicated and requires expert advice.
O’Brien & Associates Law Firm, P.C.s’ expert attorneys work with clients throughout New York on issues involving pension valuation and home valuation as part of the property division phase of the divorce process. These matters require understanding and compassion, but we are also aggressive on behalf of our clients — in the courtroom and in deliberations.
Pension and Divorce
It is a common misconception that a pension is not considered a marital asset. All pension plans are subject to being divided but will not necessarily be split into equal halves. For people who have long-term marriages, and especially for those nearing retirement, this is a significant factor in dividing marital assets. Our attorneys have particular expertise advising clients in complex circumstances where pension valuation is needed to protect their interests.
Divorce and the House
Your home or other real estate may be among the most significant assets you acquire over the course of your marriage. Generally, if you and your spouse own the house, then it is a marital asset. If one party owned the house before the marriage or has vacated the marital home for a period of time, equitable value determination may be more complex. Different factors contribute to determining whether or not the property is a mixed asset, including: whether one spouse’s name was added to the title after marriage, or whether there was an investment by the parties in the separate property of the other. We will assist you to obtain a professional appraisal that determines the true value of your home and how it relates to the equitable distribution of assets that properly belong to you.